GYF

Interview

Bitcoin and the Tyranny of Time Scarcity : Interview with Robert Breedlove (All Interviews)

I consider myself lucky to have a healthy skepticism of authority in general, but I have also read a great variety of books that have sharpened my skeptical mind. I would recommend “The Law'' written by Frederic Bastiat. It's an approximately 60-page book and is a good simple short classic. Bastiat thoroughly decimates the social theories supporting government plunder, and it is very relevant to what we are experiencing in the US today. For example, the US government announced they would print 900 billion dollars and they will send everyone a 600-dollar check for financial aid.
Blog

Why is Bitcoin better than the central bank? : Interview with Robert Breedlove ②

Every function that the central bank provides—facilitating international value flows, reconciling account balances, and maintaining monetary policy—involves an army of humans to accomplish. The federal reserve alone has 20 000 people working, there are probably another 200 000 people that follow their movements very closely trying to figure out what the federal reserve will do next, so they can communicate that information to the broader market. Bitcoin satisfies and provides all the aforementioned functionalities of the central bank with distributed software.
Blog

“Short the Bankers, Long Bitcoin” : Interview with Scott Melker ②

They say that Bitcoin is used for criminal activity, but nothing has been used for such activity more than the US dollar. And the banks know about it. To me, something like the FinCEN news story was like someone telling me “guess what, the sky is blue and water is wet!” We know that banks assist criminal enterprise and that governments are involved as well. There is a reason that Bitcoiners say “Short the bankers, Long Bitcoin” as Anthony Pompliano stated. Banks are corrupt. The whole banking system structure is meant to enrich the wealthy and hold down and discriminate against the poor.
Blog

America’s 401K : Interview with Lyn Alden ③

401K is a type of account that you can use to hold investments. Decades ago, companies used to offer pensions, but that changed. Over time, they started shifting to 401K. This account is a system account offered by an employer for an employee. An employee can put a percentage of their income into 401K from their paycheck, and it will not be taxed. Usually, the employer matches that; if the employee puts 5 % of his or her paycheck in, the employer will also put 5% up to a certain time. Now, that money will be put in a vehicle where it will be tax-advantaged, and you can invest in equities, bonds, ETFs, etc., depending on what kind of asset class is being offered.
Blog

Layered Structure of the Monetary System : Interview with Nik Bhatia ①

Gold and silver have been used as money by human beings for thousands of years, but in the 13th century, some city republics in northern Italy, such as Florence and Venice, issued a gold coin by their mint that had been changed to purity. This was unprecedented and such an event had never happened before where a coin had such stability and a government didn't devalue the currency like it had done in the past, such as during the Roman Empire and the Greek city-states. Because of the stability of the Gold Florin, the coin of Florence, and also the gold Ducat in Venice, this new class of merchant bankers started to issue promises to pay Florin and Ducat.
Blog

Evolution of Games : Interview with Sebastien Borget The Sandbox ②

People have been connecting through games for decades. Many players would try to farm content and sell rare items for real money, but they were limited by what the developers allowed them to do. It was more of a white and black market and not creating a real legitimate opportunity. However, we are taking the opposite approach; we are embracing the idea of opening the doors to the virtual world and encouraging the players to create and trade the content. We hope that we will unlock more value for players and creators, and the gaming industry in general by increasing conversion as the 4th industrial revolution is progressing.
Blog

What determines the price? : Interview with Ki Young Ju CryptoQuant CEO ①

We have many unique indicators using or on-chain data. For example, the Estimated Leverage Ratio shows all the derivatives exchanges' open interest divided by their BTC reserve on that exchange. The value of this graph goes down, which is an indication that people are trading with low leverage. As you can see from the graph below, the estimated leverage ratio has decreased, meaning that people have opened their positions with low leverage. Leveraged trading is the use of borrowed funds with a contractually determined return to increase the ability of a business to invest and earn an expected higher return. A lower ratio of leverage means that companies operating or traders are generating enough revenue to grow their assets through profits.
Blog

One of the Most Tragic Hacks : Interview with Dmytro Budorin Hacken CEO ②

Back in 2017, people were keeping their assets on a hardware wallet. There was one individual who faced a massive hack and lost around 60 million dollars’ worth of assets on his hardware wallet. The attacker knew that this guy was using that kind of wallet, and targeted his attack by delivering a fake software update for the wallet. The holder didn't see that the message wasn’t from the official wallet administrators and when he opened the software it didn't go to the official homepage for the update either. Still, he didn't think much of it and clicked “yes” to the update. Seconds after, the fake uploader started to install the fake wallet and stole everything on the wallet. The poor guy lost 60 million in a few minutes by just installing the wrong software update. So, what I am trying to say is that you should never install anything that is not from licensed stores.
Blog

Is Scaling War still ongoing? : Interview with Peter McCormack ②

The most controversial issue was the scaling war, which happened in 2017, and it went on for a long period. It was about the block size; do we want a bigger block size or not? That was fascinating, and I can look back on it now and understand it a lot better than what I did then. At the time, I had no idea which side to choose, so I just picked a side. Fortunately, I ended up on the right side, but I could easily have ended up on the wrong side.
Interview

NFT and Art : Interview with John Crain SuperRare CEO (All Interviews)

NFT, Non-Fungible Token, is a token standard. The main feature of an NFT is that it has a unique ID. If you mint an NFT, you will have a unique ID for a given set of data. You will be able to see specifically who is using the specific token, and where it is. If I sent it to you, you will also be able to track that it has been transferred. Thus, the unique ID of the NFT is why it is interesting for art and the art world. NFT’s provide provenance, meaning it makes it possible to track its history. You can see who has ever owned the art piece, when it was created, is it the real piece or not, etc. By confirming that, we can reduce the amount of forgery which is pretty prevalent in art.
Blog

The Cypherpunk Movement : Interview with Aaron van Wirdum Bitcoin Magazine ②

The cypherpunk was a movement from the 1990s back when the internet was brand new and just had started to get more broadly adopted. Cypherpunks realized that the internet had huge potential and that there would be two potential outcomes of the internet. One would be the internet becoming a panopticon surveillance machine that would break everybody's privacy, and enable a totalitarian state. The other outcome would be privacy with strong encryption where people could communicate, trade, and transact freely and privately.
Blog

Art Theft and Fraud : Interview with John Crain SuperRare CEO ②

Art has not been hacked or laundered on SuperRare, but we have had people take artworks from SuperRare, and create an NFT token on another digital art platform with it. That is very upsetting, especially for the artists because they have been putting a lot of hard work into their artworks. Somebody who just rips them off by taking their work and taking the credit for it, does obviously not feel very good. We have been able to work with other platforms and marketplaces as partners to prevent this from happening. They can take down the fraudulent work from the website, but the interesting thing is that no one can take down the created token on the blockchain. Additionally, since the original artwork is tied to a token it’s very easy to spot a fake.
Blog

How did Bitcoin Magazine start? : Interview with John Riggins Bitcoin Magazine ①

I got into Bitcoin in my senior year at University in 2013. A group of friends discovered Bitcoin, and us being a little libertarian-minded, we thought it was very interesting. After college, I took a job at FedEx, an American multinational delivery services company, and worked in a revenue strategy group developing alternative payment options for countries around the world. Thanks to that position, I spent some time in Asia. Together with the team back then, we onboarded Alipay and WeChat pay. Spending some time especially in China blew me away by how far ahead Asia was getting in terms of digital payments.
Notification

Introducing a new Function for Making Limit Orders more convenient

BTCBOX's "Batch Order" function allows you to submit multiple limit orders at once, with the same price difference and same quantity, "within a set price and quantity range". Batch Order Merit...
Blog

1930s Illegal to Hold Gold : Interview with Lyn Alden ②

Back when people didn’t have computers or the internet, information got around a lot slower. People could not go online, and see what the inflation rate was, or what their rates were. There was far less information available, and even the people who were watching out for the markets were just getting all the information from newspapers. However, the majority of many people were not following it at all. In the 1930s and 1940s, one of the answers to maintaining your wealth would be gold. In this way, if you held gold, you defended against all that currency devaluation. To cancel out this option, many countries including the US, made it illegal to own gold. Also, because people could not track real-time information, they did not really see the need for it to buy gold.
Blog

The Orange Pill Podcast : Interview with Max Keiser ②

We have launched a new podcast that premiered on the 16th of August called The Orange Pill Podcast. The concept of the Orange Pill Podcast is to uncover what happens after you have had the red-pilled. Many people say “they took the Red Pill” or “I am woke”. But now what? After you take the red pill, you have to take the orange pill. The orange pill is really the Bitcoin pill, and everything that encompasses Bitcoin financially, monetarily, religiously, economically, spiritually, sociologically, psychologically, cosmically, universally, etc. So, you have to make sure you don’t miss it.
Blog

What is On-Chain Data? : Interview with Rafael Schultze-Kraft CTO of Glassnode ①

I think that on-chain data is something completely new. it's a new kind of exotic data that does not exist in traditional markets. Now we have open ledgers (blockchains) that have millions of recorded transactions. And there's a lot of information and a lot of value in that data with respect to fundamentales and the market. From on-chain data, we can know how to time the cycles of these markets. I think this is something anyone involved in this industry would want to have an eye on. You will get a grip of what is going on under the hood, how network participants and investors are behaving.
Blog

Ethical Issues in Generating a Coin : Interview with Charlie Lee ①

I wouldn't say it is “not ethical” to hold your coins, but when people complain saying “ You don’t have skin in the game”, the reality of the matter is that it is my creation and I am tied to the success of Litecoin. Now, if Litecoin succeeds, that is good for me. I don’t need to additionally tie my financial interest in the coin. It actually could be a misalignment of interest for the creator to hold the coin. For example, one could be releasing fake news, and making announcements to pump the price to profit off of. That’s not good for the success of the coin. That said, I don’t think it would be an ethical issue to hold your coin, but it depends on what you do and what your actions are as a coin creator. If you are working on your coin and your goal is to make it successful, the price will follow that.
Blog

Bitcoin and the Tyranny of Time Scarcity : Interview with Robert Breedlove ①

I consider myself lucky to have a healthy skepticism of authority in general, but I have also read a great variety of books that have sharpened my skeptical mind. I would recommend “The Law'' written by Frederic Bastiat. It's an approximately 60-page book and is a good simple short classic. Bastiat thoroughly decimates the social theories supporting government plunder, and it is very relevant to what we are experiencing in the US today. For example, the US government announced they would print 900 billion dollars and they will send everyone a 600-dollar check for financial aid.
Notification

Notification of Annual Report Release

Thank you for always supporting BTCBOX. We have now completed the preparation of the Annual Report (Japanese ver.) required for final tax return in Japan for the year 2020. Please login to our ...